Japan preliminary Q2 GDP: 0.4% q/q (vs. expected 0.1%

Author: Eamonn Sheridan | Category: News

Japanese economic growth data for the second quarter of 2019

GDP (seasonally adjusted) for Q2, preliminary,  0.4% q/q  … a big beat, at least on this early indication 
  • expected 0.1%, prior 0.6%
GDP Annualized (seasonally adjusted) for Q2, preliminary 1.8% y/y
  • expected 0.5%, prior 2.2%
GDP Nominal (seasonally adjusted) for Q2, preliminary 0.4% q/q
  • expected 0.1%, prior 0.8%
GDP Deflator y/y for Q2, preliminary 0.4%, also higher than expected 9way short of the BOJ target of course) 
  • expected 0.3%, prior 0.1% (an inflation indicator)
GDP Consumer Spending y/y for Q2, preliminary 0.6% q/q for a miss
  • expected is 0.7%, prior was -0.1%
  • up for the third quarter in a row, albeit not as strong as fprecasts
GDP Business Spending y/y for Q2, preliminary 1.5% q/q … beat
  •  expected 0.8%, prior was 0.3%
  •  capex up for the third quarter in a row 
OK, much better than central forecasts for growth. Which should suggest the BOJ has room to pull back on the stimulus a little …. except of course the inflation indicator is not anywhere near the 2% target. 

more to come  

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